(b) Lessor shall purchase the Aircraft from Lessee and lease it to Lessee if on or before the
Last Delivery Date (specified in Annex B) Lessor receives each of the following documents in form
and substance satisfactory to Lessor: (i) a copy of this Lease executed by Lessee, (ii) a Bill of
Sale from Lessee to Lessor in the form of Annex C; (iii) copies of insurance policies or, at
Lessor’s option, such other evidence of insurance which complies with the requirements of Section
10, (iv) evidence of an N number for the Aircraft; (v) evidence that the Aircraft has been duly
certified as to type and airworthiness by the Federal Aviation Administration (**“FAA”**); (vi)
evidence that Lessor’s designated FAA escrow agent (which may be FAA counsel) has received in
escrow the executed bill(s) of sale (which shall include, without limitation, a standard form FAA
Bill of Sale) and AC Form 8050-1 Aircraft Registration Form (except for the pink copy which shall
be available to be placed on the Aircraft upon acceptance thereof), and an executed duplicate of
this Lease all in proper form for filing with the FAA; (vii) resolution of Lessee authorizing this
Lease in the form of Annex D; (viii) a completed inspection and/or survey with respect to the
Aircraft in accordance with the requirements set forth in the Certificate of Acceptance; (ix) an
Additional Collateral Agreement executed by Lessee in a form and substance satisfactory to Lessor;
and (x) a Corporate Guaranty agreement executed by Offshore Logistics, Inc. (the “Guarantor”) in a